South Africas Naspers in $570 million Russia internet deal FT

West Australian
Tuesday 12th March, 2013

JOHANNESBURG (Reuters) – South African media and e-commerce firm Naspers Holdings will merge two of its Russian internet sites with rival in a deal worth at least $570 million, the Financial Times reported on Tuesday.Cape Town-based Naspers, which has transformed itself into a $29 billion internet powerhouse by buying business in fast-growing markets, plans to merge its and classified sites with Avito, the FT said in its online edition.The deal, which would create the world’s third-largest classified website, would also include Naspers investing $50 million in cash in…

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